elunia1

We are thinking of moving to Sayulita. Ideally, we would like to purchase two houses in a good location (where each of them would be divided into two 2-3 separate apartments )and make a living from renting the apartments.Does anyone know what occupancy you can count on during the highs and low season? Will the income obtained from the rental be enough to make a comfortable living for a family of 4.Thanks Artur

suze

Have you ever been to Sayulita?

suze

https://www.sayulitalife.com/gala

a blog of someone who has done what you are asking about

elunia1

I have not been to Sayulita. But I have been to many similar locations. I looked at this Syulitalife but it does not really give me any good answer.

suze

Wouldn't you want to at least visit a place once before even researching buying two homes, becoming a landlord, and so on?

I'm asking because I spend a lot of time in Puerto Vallarta (the airport you would use for Sayulita).

As far as occupancy, I think that would depend on what kind of B&B or hotel you are running, how nice it is, how cheap/expensive the price you set.

Do you speak Spanish?

suze

Oh and there are some issues with the water (people getting sick in the area). You'll want to look into that.

Stewbear

I can not tell you if your plan is workable But I do know others personally who had less then outstanding success at such a plan.
If you are relying on rental income as your main support you are taking a large risk IMO. If it is just a nice supplement to ease your overhead & have some extra dinero for luxuries it is a possibility. Just my dos centovos

elunia1

Yes,I would definitely visit the place( more than ones)prior making the final decision.No,I don't speak Spanish.
I know this is kind of an issue but I think it can be overcome.I started learning Spanish though. I am looking into the mid-range scale accommodation. Between $100-200US per night in high season.That would be for a small 1-bed apartment in a villa with some views and pool access in Sayulita; something better than the cheap hippie style and low budget accommodation I know there are foreigners who have done it and I can sort of track the occupancy they have when renting via airbnb. Although this as a research on its own is not good enough.

suze

<something better than the cheap hippie style and low budget accommodation>

You don't know Sayulita. There are already a lot of places like that already built there. It hasn't been only a hippie surfing yoga enclaves for several decades now.

Barry Golson (the link I posted above) also wrote a book about doing exactly what you are proposing. Called "Gringos in Paradise".

suze

If you don't speak Spanish, how will you find, hire, and communicate with the help you will need to run your place? The maids, the gardeners, the maintenance men?

baldone

Some random thoughts. In no particular order.
You'd essentially be running a business, and to be legal, you cannot do it on a tourist visa, or FMM. You'd need a Residente Temporal or Permanente; either of those visas can get you your RFC (tax ID). If you can show foreign income to qualify for the above, you might not need income from rentals. Check with your closest Mexican Consulate for requirements for a family of 4.
Have an exit plan, should you ever decide to or are forced to sell, and become well versed in the tax laws/capital gains because you'd be selling what amounts to business property.
Do visit. And not in the high season. Bring the whole family for 3 months like July, August, & September when the weather really sucks and the sewage smell is at it's ripest.
Speaking Spanish for sure is a must long-term, but finding maintenance workers that speak some English shouldn't be too much of an issue if you network with other gringo property owners for references. Plus, not being a tourist will force you to get up to speed pretty quickly.
All that said, I think a better plan would be to invest your money in properties in the US, where you know the market and tax laws, where your income would be stable, and hire a property manager. And if you ended up hating Sayulita, you'd still have income to move somewhere else in Mexico. Or at least leave town for extended periods. That could also help you with your income requirements to get the aforementioned visas, which you'd want whether you have a business or not.

suze

baldone that is an excellent post!!

my vote is go on vacation to Sayulita this year, rent a house, stay two months - August & September - as the first step to evaluate the feasibility of this plan.

baldone

Thanks, suze, sincerely.
To the OP: I'm of the mind that visiting Mexico as a tourist and actually moving here can be compared to dating someone and actually marrying him/her. A lot of people don't want to buy the cow. But I highly recommend it. If you can figure out a way to do it, then by all means do so. I know a number of people that could have, but regret that they never did when they got older.

suze

baldone, Well since I've never been to Sayulita myself I guess I should not have posted on this thread in the first place.

But visiting Mexico, vacationing in Mexico, living part time, or even full time, in Mexico... are VERY different propositions than opening a business hopefully for profit in a place you have never been.

Bedar

Is it now legal to buy property on the coast ? Didn't use to be.

baldone

It's been legal to buy property along the coast as well as the border for a long time. The instrument is called a 'fideicomiso'.
http://www.parkstrong.com/fideicomiso.htm

suze

Where'd our OP go?